Think you can’t afford a business adviser? You may already have one

In our previous article, we were exploring the similarities between an accountant and a business adviser. Because, as we put it, a good accountant will take care of the ‘numbers stuff’ for you, but a great accountant can do so much more on top.

Could your accountant be the business adviser you need?

While it’s true that accountants love numbers (numbers are our bread and butter, after all), we’re also here to serve the people behind the numbers. Business owners like you.

When you think about it, there’s a natural crossover between the ‘numbers stuff’ and activities like strategic planning, cost management, resource management, and everything else that goes into running (and growing) a successful business. It all starts with a clear understanding of where the business is at right now, then you can identify actions for the future. It makes sense that an accountant is ideally placed to help you on this journey.

Plus, many accountants are small business owners themselves, so they can easily put themselves in your shoes. They know what it takes to run a business because they’re already doing it.

How to get more out of your accountant

A good place to start is by identifying exactly what you want to achieve in your business. Do you need help navigating a tough financial time, for instance? Are you looking to grow the business? Are you looking to make the business as valuable as possible so you can sell it in the next five years?

Having identified your goals, you can then pinpoint the most pressing business questions that you need to answer in order to achieve those goals – questions to discuss with your accountant, basically. Say, for example, that your business is under financial pressure. Good questions to ask might include:

• Is my business paying too much for goods/services?
• Where else can we trim costs?
• How can we improve our cash flow?
• Are we pricing correctly?
• Is the business entitled to any funding or tax relief that we’re not aware of?
• Are we making the most of our existing resources?

A great accountant – one who sees themselves as a trusted business adviser – will work with you to answer these types of questions. And if your accountant isn’t able to offer the business advice you need, maybe it’s time to switch. Here at Jupp Castle, we pride ourselves on being more than ‘just accountants’. Learn more about working with us.

(Picture by Freepik)